Economic news(2024/12/24)
Government proposal allows state to temporarily acquire factories that produce semiconductors and other important materials in case of emergency
2024-12-24 23:41:00
The government has unveiled a proposal for a system that would allow the government to temporarily acquire companies' factories and equipment in the event of an emergency for certain important materials, such as semiconductors, that are essential to people's lives, and outsource production to the private sector as a government project.
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Treatment of teacher salary increase solidified as "gradual increase to 10% without conditions"
2024-12-24 21:07:00
Cabinet negotiations between Finance Minister Kato and other ministers began on the 24th to draw up the government's budget proposal for next fiscal year. Regarding the focus of attention, Minister of Education, Culture, Sports, Science and Technology Abe and Minister of Education, Culture, Sports, Science and Technology agreed to gradually raise the additional salary for teachers from the current 4% to 10% by fiscal 2030, without attaching conditions such as reducing overtime work.
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Government committee to consider preventive measures against recurrence of fraudulent vehicle type approval acquisition
2024-12-24 20:53:00
In response to a series of fraudulent cases by automakers and others regarding the acquisition of type approvals, which are necessary for the mass production of automobiles and other products, a national review committee that has been discussing countermeasures has compiled measures to prevent recurrence, such as having the Ministry of Land, Infrastructure, Transport and Tourism select some cars that have obtained type approval and check whether they meet safety standards.
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Government selects operator for offshore wind power generation in Aomori and Yamagata waters
2024-12-24 19:42:00
The government has announced that it has selected two operators for offshore wind power generation projects in the waters of Aomori and Yamagata prefectures, one led by JERA, the largest thermal power generation company, and the other led by Marubeni, a major trading company.
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US Steel acquisition plan "left to President Biden's decision"
2024-12-24 19:35:00
Nippon Steel Corporation has announced that it has received a report from the U.S. government committee that has been reviewing the company's plan to acquire U.S. Steel, a major American steel manufacturer, that the decision on whether to approve the acquisition has been left to the president. President Biden has repeatedly expressed his disapproval of the acquisition plan, so attention is focused on how he will make his decision.
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Treatment of teacher salary increase solidified as "gradual increase to 10% without conditions"
2024-12-24 19:07:00
Cabinet negotiations between Finance Minister Kato and other ministers began on the 24th to draw up the government's budget proposal for next fiscal year. Regarding the focus of attention, Minister of Education, Culture, Sports, Science and Technology Abe and Minister of Education, Culture, Sports, Science and Technology agreed to gradually raise the additional salary for teachers from the current 4% to 10% by fiscal 2030, without attaching conditions such as reducing overtime work.
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The yen has fallen slightly
2024-12-24 18:38:00
On the 24th, the yen fell slightly against the dollar on the Tokyo foreign exchange market.
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Next fiscal year's budget proposal to allocate approximately 330 billion yen to advanced semiconductor sector including Rapidus
2024-12-24 18:22:00
The government has earmarked approximately 330 billion yen in the next fiscal year's budget proposal to support the field of advanced semiconductors. This includes an investment in Lapidus, which aims to domestically manufacture advanced semiconductors. If the investment is realized, the government will essentially become a shareholder of Lapidus.
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More than 20% of local governments are “failed to meet government targets” for system unification
2024-12-24 18:03:00
In order to advance the digitalization of government administration, local governments across the country are working to transition their resident information and other systems to unified specifications, but it has been found that more than 20% of local governments are not expected to complete the transition in time for the government's target of completing it by the end of next fiscal year.
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Non-alcoholic beverage market expands as major manufacturers step up development
2024-12-24 17:18:00
The market for non-alcoholic beverages is expanding due to growing health consciousness and other factors, and major manufacturers are stepping up their development.
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Supermarket and department store sales in November exceed same month last year for the first time in two months
2024-12-24 16:12:00
Sales at major supermarkets across the country in November exceeded the same month last year for the first time in two months, due to continued food price increases.
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Stock price: Small price movements
2024-12-24 15:59:00
On the 24th, the Nikkei average on the Tokyo stock market only fluctuated slightly as many foreign investors were on Christmas vacation and refrained from active trading.
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Next fiscal year's budget proposal to allocate approximately 330 billion yen to advanced semiconductor sector including Rapidus
2024-12-24 14:32:00
The government has decided to allocate approximately 330 billion yen in next year's budget proposal to support the field of advanced semiconductors. This includes an investment in Lapidus, which aims to domestically produce advanced semiconductors. If the investment is realized, the government will essentially become a shareholder of Lapidus.
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US Steel acquisition plan "left to President Biden's decision" - US report
2024-12-24 13:46:00
Nippon Steel Corporation has announced that it has received a report from the U.S. government committee that has been reviewing the company's plan to acquire U.S. Steel, a major American steel manufacturer, that the decision on whether to approve the acquisition has been left to the president. President Biden has repeatedly expressed his disapproval of the acquisition plan, so attention is focused on how he will make his decision.
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"Perovskite solar cells" installed at the Osaka Kansai Expo site
2024-12-24 13:39:00
"Perovskite solar cells," which are being called the next generation of solar cells because they are thin, light, and foldable, have been installed at the site of the Osaka-Kansai Expo 2020, which opens next year, and were unveiled to the press on the 24th.
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Minister of Economy, Trade and Industry: "We expect this to lead to increased competitiveness" following Honda and Nissan's merger talks
2024-12-24 12:04:00
Regarding the announcement by Honda and Nissan Motor Co., Ltd. that they will enter into full-scale discussions toward a business integration, Minister of Economy, Trade and Industry Muto expressed his hope at a press conference after the Cabinet meeting that the move would lead to strengthening the competitiveness of Japan's automobile industry.
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Stock prices fall slightly
2024-12-24 12:01:00
On the 24th, the Tokyo Stock Exchange saw a slight drop in stock prices as sell orders were placed to lock in immediate profits amid a lack of signs of active trading.
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US Steel acquisition plan "left to President Biden's decision" - US report
2024-12-24 12:00:00
Several Western media outlets have reported that the U.S. government committee that has been reviewing Nippon Steel's plan to acquire U.S. Steel, a major American steel manufacturer, from a national security perspective has decided not to make a decision on whether to approve the acquisition, but to leave the decision to the president. President Biden has repeatedly expressed his disapproval of the acquisition plan, so attention is focused on how he will make his decision.
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Next fiscal year's budget proposal to be finalized through ministerial negotiations with the Ministers of Education, Culture, Sports, Science and Technology, Economy, Trade and Industry, and Foreign Affairs
2024-12-24 11:15:00
The government's draft budget for next fiscal year is entering the final stages, with final adjustments being made to individual items that have yet to be finalized in cabinet negotiations between Finance Minister Katsuyuki Kato and other ministers.
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Bank of Japan's October meeting: Opinions are growing that the impact of the new U.S. administration should be assessed
2024-12-24 11:10:00
The Bank of Japan has released the minutes of its October Monetary Policy Meeting, held just before the US presidential election. There were multiple opinions that it was necessary to assess how the policies of the new US administration would affect financial markets and prices, and it was revealed that the decision was made to maintain monetary policy.
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US Steel acquisition plan "left to President Biden's decision" - US report
2024-12-24 10:58:00
Multiple media outlets in the United States have reported that the U.S. government committee that has been reviewing Nippon Steel's plan to acquire U.S. Steel, a major American steel manufacturer, from a national security perspective has decided not to make a decision on whether to approve the acquisition, but to leave the decision to the president. President Biden has repeatedly expressed his disapproval of the acquisition plan, so attention is focused on how he will make his decision.
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Ministry of Land, Infrastructure, Transport and Tourism to strengthen authority of local governments to grasp management status of aging apartment buildings
2024-12-24 05:31:00
As the number of dilapidated apartment buildings increases and management becomes an issue, the Ministry of Land, Infrastructure, Transport and Tourism has decided to step up the involvement of local governments and strengthen the response of management companies.
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Major financial institutions develop in-house AI, and are actively using it for asset management and other purposes
2024-12-24 05:27:00
Major financial institutions are actively developing their own AI, which is rapidly becoming more widespread, and utilizing it in core departments such as asset management and personal sales. Among these, Meiji Yasuda Life Insurance, a major life insurance company, has been introducing AI developed by its own specialized department into the system used to create investment plans for foreign stocks since October this year.
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Toyota considering building new electric vehicle factory in China
2024-12-24 05:04:00
Toyota Motor Corporation is considering building a new electric vehicle (EV) production factory in Shanghai, China. The plan is to focus on producing EVs for luxury car brands.
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Honda and Nissan in serious talks to merge, focus on strategies to create synergies
2024-12-24 05:00:00
Honda and Nissan Motor Co., Ltd. announced on the 23rd that they will enter into full-scale discussions toward a business integration. The focus is on whether they can quickly come up with a strategy to create synergy toward the target of a final agreement in June 2025.
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Daiwa Securities Group to raise employee wages by more than 5% next fiscal year, including starting salaries
2024-12-24 01:06:00
Daiwa Securities Group Inc. plans to raise wages by more than 5% next year for its 10,000 employees in Japan, and also raise starting salaries for new recruits. According to the company, the wage hike will affect about 13,000 employees of domestic group companies, and will amount to a wage increase of more than 5% when combined with a base pay increase, regular pay raises, and an increase in lump-sum payments.
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